AK House Majority
The 26th Alaska State Legislature, 2009 - 2010  Print Friendly Version 
Sponsor Statement: House Bill 175

Insurance

Signed Into Law! Chapter 30 SLA 09
Sponsored by the House Labor & Commerce Committee
Ak Legislative MajorityAk Legislative Majority
Rep. Kurt Olson R-29
Ak Legislative Majority

Rep. Kurt Olson (R-29)
Chair, (H) L&C Com.
Ak Majority Organization

Ak Majority Organization

Relating to insurance, including treating as confidential certain information submitted to the deny or revoke a license; and providing for an effective date.


Posted: April 2, 2009 : vCSHB 175(L&C)
Bill Version: CSHB 175(L&C) AM S
Status: Chapter 30 SLA 09 : 2009-06-16


CSHB 175(L&C) contains miscellaneous updates to Alaska's insurance code. It will streamline some processes of the division, provide clarity to certain statutory provisions and bring certain statutes into greater uniformity with national standards.

The bill clarifies how the deposits of both domestic and foreign insurance companies will be treated under delinquency proceedings. It allows the director to do a summary suspension of a license in the event of an emergency for public protection and clarifies that rewards under wellness programs in health insurance programs do not constitute rebating.

I urge support for HB 175 to enable the Division of Insurance to continue to provide effective oversight of the insurance industry.




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